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Minister of Finance (India)

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The Minister of Finance (Vitt Mantrī ) (or simply, the Finance Minister, short form FM) is the head of the Ministry of Finance of the Government of India. One of the senior-most offices in the Union Cabinet, the finance minister is responsible for the fiscal policy of the government. As part of this, a key duty of the Finance Minister is to present the annual Union Budget in Parliament, which details the government's plan for taxation and spending in the coming financial year. Through the Budget, the finance minister also outlines the allocations to different ministries and departments. Occasionally, s/he is assisted by the Minister of State for Finance and the lower-ranked Deputy Minister of Finance.

Minister of Finance
Vitt Mantrī
Emblem of India.svg
Emblem of India
Smt. Nirmala Sitharaman Minister of Finance.jpg
Incumbent
Nirmala Sitharaman
since 31 May 2019
Ministry of Finance
StyleThe Honourable
AbbreviationFM
Member ofCabinet
Cabinet Committee on Security
AppointerPresident on the advice of the Prime Minister
Inaugural holderR. K. Shanmukham Chetty
Formation15 August 1947

There have been a number of Finance Ministers who went on to become the Prime Minister Morarji Desai, Charan Singh, Vishwanath Pratap Singh and Manmohan Singh and also to serve as the President like R.Venkataraman and Pranab Mukherjee. Several other Prime Ministers have since held the additional charge of finance ministry.

The current Finance Minister of India is Nirmala Sitharaman.

Lists of Finance MinistersEdit

№ Picture Name Term of office Length Political party
(Alliance) 		Prime Minister
1   R. K. Shanmukham Chetty 15 August 1947[1] 17 August 1948 2 years, 2 days Indian National Congress Jawaharlal Nehru
2   Jawaharlal Nehru 5 Feb 1949 5 April 1949 36 days
3   John Mathai 22 September 1949 1 June 1950 252 days
4   C. D. Deshmukh 1 June 1950[2] 24 July 1956 6 years, 53 days
(2)   Jawaharlal Nehru 24 July 1956 30 August 1956 37 days
5   T. T. Krishnamachari 30 August 1956 14 February 1958 1 year, 168 days
(2)   Jawaharlal Nehru 14 February 1958 22 March 1958 36 days
6   Morarji Desai 23 March 1958 31 August 1963 5 years, 161 days
(5)   T. T. Krishnamachari 31 August 1963 31 December 1965 2 years, 122 days Jawaharlal Nehru
Gulzarilal Nanda
Lal Bahadur Shastri
7   Sachindra Chaudhuri 1 January 1966 12 March 1967 1 year, 70 days Lal Bahadur Shastri
Indira Gandhi
(6)   Morarji Desai 13 March 1967 16 July 1969 2 years, 125 days Indira Gandhi
8   Indira Gandhi 16 July 1969 27 June 1970 346 days
9   Yashwantrao Chavan 27 June 1970 10 October 1974 4 years, 105 days
10   Chidambaram Subramaniam 10 October 1974 24 March 1977 2 years, 165 days
(6)   Morarji Desai 24 March 1977 26 March 1977 2 days Janata Party Morarji Desai
11 Hirubhai M. Patel 26 March 1977 24 January 1979 1 year, 304 days
12   Charan Singh 24 January 1979 16 July 1979 173 days
(6)   Morarji Desai 16 July 1979 28 July 1979 12 days
13   Hemwati Nandan Bahuguna 28 July 1979 19 October 1979 83 days Janata Party (Secular) Charan Singh
(12)   Charan Singh 19 October 1979 14 January 1980 87 days
14   R. Venkataraman 14 January 1980 15 January 1982 2 years, 1 day Indian National Congress Indira Gandhi
15   Pranab Mukherjee 15 January 1982 31 December 1984 2 years, 351 days
16   V. P. Singh 31 December 1984 24 January 1987 2 years, 24 days Rajiv Gandhi
17   Rajiv Gandhi 24 January 1987 25 July 1987 182 days
18   N. D. Tiwari 25 July 1987 25 June 1988 336 days
19   Shankarrao Chavan 25 June 1988 2 December 1989 1 year, 160 days
20 Madhu Dandavate 6 December 1989 10 November 1990 343 days Janata Dal V. P. Singh
21   Yashwant Sinha 10 November 1990 21 June 1991 223 days Samajwadi Janata Party (Rashtriya) Chandra Shekhar
22   Manmohan Singh 21 June 1991 16 May 1996 4 years, 330 days Indian National Congress Pamulaparthi Venkata Narasimha Rao
23   Jaswant Singh 16 May 1996 1 June 1996 16 days Bharatiya Janata Party Atal Bihari Vajpayee
24   P. Chidambaram 1 June 1996 21 April 1997 324 days Tamil Maanila Congress H. D. Deve Gowda
25   I. K. Gujral 21 April 1997 1 May 1997 10 days Janata Dal I. K. Gujral
(24)   P. Chidambaram 1 May 1997 19 March 1998 322 days Tamil Maanila Congress
(21)   Yashwant Sinha 19 March 1998 1 July 2002 4 years, 104 days Bharatiya Janata Party Atal Bihari Vajpayee
(23)   Jaswant Singh 1 July 2002 22 May 2004 1 year, 326 days
(24)   P. Chidambaram 22 May 2004 30 November 2008 4 years, 192 days Indian National Congress Manmohan Singh
(22)   Manmohan Singh 30 November 2008 24 January 2009 55 days
(15)   Pranab Mukherjee 24 January 2009 26 June 2012 3 years, 154 days
(22)   Manmohan Singh 26 June 2012 31 July 2012 35 days
(24)   P. Chidambaram 31 July 2012 26 May 2014 1 year, 299 days
26   Arun Jaitley 26 May 2014 14 May 2018 3 years, 353 days Bharatiya Janata Party Narendra Modi
27   Piyush Goyal
 14 May 2018 22 August 2018 100 days
(26)   Arun Jaitley 23 August 2018 23 January 2019 153 days
(27)   Piyush Goyal
 23 January 2019 15 February 2019 23 days
(26)   Arun Jaitley 16 February 2019 30 May 2019 103 days
28   Nirmala Sitharaman 30 May 2019 Incumbent 4 years, 330 days

List of Ministers of StateEdit

Ministers of State of Finance
Minister of state Portrait Political party Term Years
Nirmala Sitharaman   Bharatiya Janata Party 26 May 2014 9 November 2014 167 days
Jayant Sinha   9 November 2014 5 July 2016 1 year, 239 days
Santosh Gangwar   5 July 2016 3 September 2017 1 year, 60 days
Arjun Ram Meghwal   5 July 2016 3 September 2017 1 year, 60 days
Pon Radhakrishnan   3 September 2017 30 May 2019 1 year, 269 days
Shiv Pratap Shukla   3 September 2017 30 May 2019 1 year, 269 days
Anurag Thakur   30 May 2019 7 July 2021 2 years, 38 days
Bhagwat Karad 7 July 2021 Incumbent 2 years, 292 days
Pankaj Choudhary 7 July 2021 Incumbent 2 years, 292 days

ReferencesEdit

  1. ↑ "COUNCIL OF MINISTERS" (PDF).
  2. ↑ "Archived copy". Archived from the original on 22 September 2015. Retrieved 19 April 2016.{{cite web}}: CS1 maint: archived copy as title (link)

External linksEdit

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